Tag
Legal Proceedings
6 articles
Legal and insolvency proceedings are active across various Indian companies, reflecting ongoing financial distress and disputes. Several National Company Law Tribunal (NCLT) benches are addressing petitions related to corporate insolvency resolution processes (CIRP), personal insolvency, and appeals against Registrar of Companies (RoC) actions, as seen in cases involving Pari Infrabuilders, Chanchal Hotels, and IDBI Bank's petition against Sucheta Modak. Additionally, the NCLT is overseeing the restoration of companies struck off for non-compliance, such as Virgin Metallic Chemicals and Om Infrarealty, while also adjudicating on matters like contempt proceedings against Hindustan National Glass and approving resolution plans, like that for Technicolour Dream Pants. These developments highlight the continued scrutiny of corporate governance and financial health within India's business landscape, potentially impacting investor confidence and requiring businesses to prioritize regulatory compliance.
Union of India Interlocutory Application Dismissed for Non‑Prosecution
The Gauhati High Court (Itanagar Bench) dismissed the Union of India's interlocutory application against SMS Smelters Ltd on 2 July 2026.
The applicant failed to appear for five consecutive hearings a
TVS Electronics EPFO Litigation Partial Relief Granted
TVS Electronics discloses material litigation with EPFO regarding PF contribution interpretation for April 2014-June 2015.
Industrial Tribunal reduced damages by 45% from ₹23.24 lakh to ₹12.78 lakh, w
NCLT Restores Victory Dealtrade Post Strike-Off
NCLT Kolkata allows Income Tax Officer's appeal to restore Victory Dealtrade Private Limited to the active companies register.
The restoration was ordered due to pending income tax penalty proceedings
Ashiana Housing Receives ₹2.28 Lakh Income Tax Penalties
Ashiana Housing Ltd discloses receipt of two penalty orders from the Income Tax Department, Delhi, totaling ₹2,28,286.
A ₹2,08,286 penalty under Section 271C was levied for non-deduction and non-depos
Mideast Integrated Steels Limited FY26 Audited Results with Qualified Opinion
Mideast Integrated Steels reported standalone net loss of ₹484.78 million for FY26 with qualified audit opinion due to multiple material uncertainties.
Auditors identified seven qualifications includi
IL&FS Investment Managers FY26 Results with Qualified Audit
Board approved audited FY26 results accompanied by an auditor's report with a qualified opinion due to SFIO investigation and subsidiary issues.
Auditors issued a qualified opinion citing inability to